Studio Processing Problem

Community Novice
We discovered a problem with Canvas Studio yesterday. After successfully uploading a two hour long live-stream Q&A video it wouldn’t ever finish processing. We tried multiple times and resorted to YouTube. Today, they are still stuck at 0% processing in Studio. We made several attempts at uploading more compressed versions with lower file sizes and nothing seemed to work. The videos will upload, sometimes eventually appear processed, in some cases even briefly showing a thumbnail. If you attempt to play the video or refresh the main page, it won’t work and will still be stuck at 0% processing.
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I threw a bunch of other videos at Studio and they processed fine. After many uploads and hours of waiting, I noticed that it wasn’t the size of the file that mattered as much as the length of the video. So, I created a test video and generated many variations of length to find where it broke the processing. 1hr 39mins is the time limit. Anything less appears to process fine. I tested this again on my personal Canvas Studio account and was able to repeat the issue.
We’ve uploaded files longer that 1hr 39mins in the past. That is a long duration so it might not be an immediate issue but it is one that didn’t exist before.
Update (06-15-20): If you upload the same exact video file more than once in Studio it will use the originally processed video file. This also happens if the file was uploaded from another user account. So, the test videos linked below will process almost immediately if you try to use them.
We are still experiencing long processing times for some videos. I’m telling instructors who experience issues to wait 24 hours as most problems seem to be resolved by then.
Here is a link to download most relevant test video files close to the time limit:
Two of the test files are attached to this post. The videos consist of a static grey image with brief green flash at 10 seconds.
Is anyone else experiencing this issue?